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SHLS
Stock ticker:
NASDAQ
AS OF
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Price
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Capitalization
4.12B

SHLS Shoals Technologies Group Forecast, Technical & Fundamental Analysis

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A.I.Advisor
a Summary for SHLS with price predictions
08:00 PM EDT Jun 01, 2023

SHLS in downward trend: price may decline as a result of having broken its higher Bollinger Band on May 09, 2023

SHLS broke above its upper Bollinger Band on May 09, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 13 similar instances where the stock broke above the upper band. In of the 13 cases the stock fell afterwards. This puts the odds of success at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 33 cases where SHLS's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SHLS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where SHLS's RSI Indicator exited the oversold zone, of 12 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on June 01, 2023. You may want to consider a long position or call options on SHLS as a result. In of 38 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for SHLS just turned positive on May 09, 2023. Looking at past instances where SHLS's MACD turned positive, the stock continued to rise in of 19 cases over the following month. The odds of a continued upward trend are .

SHLS moved above its 50-day moving average on May 09, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for SHLS crossed bullishly above the 50-day moving average on May 17, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 8 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SHLS advanced for three days, in of 142 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. SHLS’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.150) is normal, around the industry mean (5.919). P/E Ratio (26.110) is within average values for comparable stocks, (75.447). Projected Growth (PEG Ratio) (0.695) is also within normal values, averaging (2.060). Dividend Yield (0.000) settles around the average of (0.025) among similar stocks. P/S Ratio (11.765) is also within normal values, averaging (93.172).

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SHLS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock worse than average.

A.I.Advisor
published Highlights

Notable companies

The most notable companies in this group are Enphase Energy (NASDAQ:ENPH), First Solar (NASDAQ:FSLR), SolarEdge Technologies (NASDAQ:SEDG), Plug Power (NASDAQ:PLUG), Bloom Energy Corp (NYSE:BE), Canadian Solar (NASDAQ:CSIQ), SunPower Corp (NASDAQ:SPWR), GrafTech International Ltd (NYSE:EAF), FuelCell Energy (NASDAQ:FCEL).

Industry description

The industry produces a diverse range of electricity-powered equipment, appliances and components, catering to both households and industries. The products include power, distribution and specialty transformers; electric motors, generators and motor-generator sets; switchgear and switchboard apparatus; light bulbs, tubes, fittings and electric signs etc. Consumer income, construction spending, and industrial production are major drivers of demand for this industry’s products. Large companies tend to have economies of scale in production, marketing, and distribution, while smaller companies can potentially carve out their own market through niche or specialty offerings. The US electrical products manufacturing industry includes about 5,700 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $125 billion. (according to a study published in First Research). Emerson Electric Co., Hubbell Incorporated and Eaton Corporation plc are major electrical products makers in the U.S.

Market Cap

The average market capitalization across the Electrical Products Industry is 3.62B. The market cap for tickers in the group ranges from 12.12K to 181.26B. NISSF holds the highest valuation in this group at 181.26B. The lowest valued company is GNAL at 12.12K.

High and low price notable news

The average weekly price growth across all stocks in the Electrical Products Industry was 1%. For the same Industry, the average monthly price growth was 3%, and the average quarterly price growth was -6%. TYGO experienced the highest price growth at 56%, while LNNNY experienced the biggest fall at -68%.

Volume

The average weekly volume growth across all stocks in the Electrical Products Industry was -56%. For the same stocks of the Industry, the average monthly volume growth was -59% and the average quarterly volume growth was -68%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 61
P/E Growth Rating: 71
Price Growth Rating: 50
SMR Rating: 75
Profit Risk Rating: 83
Seasonality Score: -2 (-100 ... +100)
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A.I. Advisor
published Earnings

SHLS is expected to report earnings to fall 3.71% to 13 cents per share on August 08

Shoals Technologies Group SHLS Stock Earnings Reports
Q2'23
Est.
$0.13
Q1'23
Beat
by $0.04
Q4'22
Beat
by $0.07
Q3'22
Beat
by $0.02
Q2'22
Beat
by $0.01
The last earnings report on May 08 showed earnings per share of 14 cents, beating the estimate of 10 cents. With 684.21K shares outstanding, the current market capitalization sits at 4.12B.
A.I. Advisor
published General Information

General Information

Industry ElectricalProducts

Profile
Fundamentals
Details
Industry
N/A
Address
1400 Shoals Way
Phone
+1 615 451-1400
Employees
835
Web
https://www.shoals.com
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SHLS and

Correlation & Price change

A.I.dvisor indicates that over the last year, SHLS has been closely correlated with ARRY. These tickers have moved in lockstep 75% of the time. This A.I.-generated data suggests there is a high statistical probability that if SHLS jumps, then ARRY could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SHLS
1D Price
Change %
SHLS100%
-0.21%
ARRY - SHLS
75%
Closely correlated
+3.11%
RUN - SHLS
62%
Loosely correlated
+1.19%
NOVA - SHLS
62%
Loosely correlated
-1.43%
SPWR - SHLS
62%
Loosely correlated
-0.27%
SOL - SHLS
59%
Loosely correlated
+9.40%
More

Groups containing SHLS

Correlation & Price change

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SHLS
1D Price
Change %
SHLS100%
-0.21%
SHLS
(undefined stocks)
95%
Closely correlated
+1.87%
Electrical Products
(undefined stocks)
64%
Loosely correlated
+1.02%